Indian benchmark indices are trading very close to peak levels. However, there are a few stocks that have the potential to rally, according to brokerage houses. Here are 4 such stocks that can move higher.

Dewan Housing

Chola Securities has a "buy" call on the stock of Dewan Housing.

"The stock is currently trading at Price/Book Value of 1.8 times, Price/Earnings of 10.6X FY20E. Healthy growth in loan book, improving cost of funds on account of change in borrowing mix, improving cost efficiency and stable asset quality paints a positive picture for DHFL, hence we maintain BUY rating and upgrade the target price to Rs 743 (Previous Target of Rs 721), assigning a P/BV 2.1X of FY20E," the firm has said in its report.

Inox

Dolat Capital has a "buy" rating on Inox with a price target of Rs 330.

Inox has added 4 new screens for Q4FY18; count of 25 new screens in FY18; we have estimated addition of 55 new screens in FY19 in line with management's guidance.

"We continue to prefer Inox over PVR in anticipation of better ad/SPH growth; we marginally upgrade our EBITDA and maintain Accumulate rating; rollover to Jun'19 target price of Rs 330 based on 10.5x Ev/EBITDA," the brokerage firm has said.

UPL

K R Choksey has recommended buying the stock of UPL. The research firm sees a target of Rs 998 on the stock.

"We have cut our earnings estimates by 3-4% for FY19-20E to factor in the hawkish tone/guidance from the management mainly because high inventory in the system still prevails. However, we expect successful commercialization of Zeba for various Kharif & Rabi crops in India along with commercialization of Zeba in Brazil to bear fruit in next 1-2 years. Further, the company has obtained registration in Philippines, Colombia and Turkey for Zeba, which can likely provide growth opportunities post FY20," the firm has said in its report.

In terms of valuations, we have assigned price to earnings multiple of 17x on FY20E and arrived a target price of INR 998, potential upside of 36% from current market price of Rs 732. We maintained BUY rating on the stock.

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